Oscient Pharmaceuticals And Pfizer Enter Agreement For FACTIVE Tablets In Mexico

Waltham, MA - Oscient Pharmaceuticals Corporation (Nasdaq: OSCI) has sublicensed the commercialization rights to FACTIVE(R) (gemifloxacin mesylate) tablets in Mexico to Pfizer, S.A. de C.V. (Pfizer Mexico), the largest pharmaceutical company in that country. In exchange for those rights, Pfizer Mexico has agreed to pay Oscient an up-front payment, milestones for attaining certain regulatory and sales goals as well as royalties on future sales. Specific financial terms were not disclosed.

FACTIVE is currently approved in the U.S. for the treatment of community-acquired pneumonia of mild to moderate severity (CAP) and acute bacterial exacerbations of chronic bronchitis (AECB).

"FACTIVE represents an important addition to our antibiotic portfolio in Mexico," stated Jorge Bracero, Regional President & General Manager, Northern Latin America, Pfizer. "We look forward to pursuing registration of this important antibiotic and making it available to local physicians and patients in Mexico dealing with often serious respiratory tract infections."

"For us, this partnership with Pfizer in Mexico underscores the potential of FACTIVE," stated Steven M. Rauscher, President and Chief Executive Officer of Oscient Pharmaceuticals. "Our business strategy, outside of the U.S., is to build the FACTIVE brand through partnerships with leading pharmaceutical companies in our licensed territories. This deal represents the first of similar agreements that we hope to establish in Canada and in certain European countries."

Pfizer will work with the regulatory agency in Mexico to facilitate the marketing approval of FACTIVE. Oscient will be the sole provider of product to Pfizer Mexico.

SOURCE: Oscient Pharmaceuticals Corporation